Iron Capital has made available in North America a Rental Purchase Option (RPO) for contractors needing used heavy equipment. The program fills a gap between rental and new or used purchase alternatives.
Rentals fill a need for short-term contracts while purchase and financing is appropriate for long-term contracts. An RPO contract sits right in between.
“Many contractors are faced with the dilemma of renting for an immediate job, versus having a lower cost of ownership by buying,” says Paul Ireland, CEO of Iron Capital. "We make it easier by providing a rental entry point but with an option to purchase that credits a significant portion of the rental payments. Our approach to RPO is unique in North America for used equipment.”
The program was pioneered in Australia over 10 years ago and has helped thousands of contractors grow their businesses by eliminating the uncertainty of taking on debt ahead of recurring contracts.
“We are dedicated to helping contractors grow their businesses by providing the equipment that they need for immediate contracts, but at the same time matching the duration of their existing projects," says Michael Harris, head of North America sales.
Effective immediately, Iron Capital is taking RPO applications for used equipment transactions across North America.